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Business Briefs

Maruti sales at a record

New Delhi, April 13: Strong demand for the 800 model sent sales of Maruti to 42,123 units in March, the highest ever in its 20-year history. This was a 21 per cent jump over 34,728 cars sold in the same month last year. Maruti’s domestic car sales during 2002-03, however, fell by 2.5 per cent to 3.27 lakh units because of a slowdown in the first half of the fiscal.

MTNL merger

New Delhi, April 13: The government is considering cross holding of equity between Mahanagar Telephone Nigam (MTNL) and Bharat Sanchar Nigam, instead of merging them into a single entity.

ICICI Bank

Ahmedabad, April 13: Panic withdrawals at ICICI Bank ATMs have subsided, except in Manipal, where customers pulled out Rs 1.05 crore on Saturday.

Essar Telecom

Calcutta, April 13: Essar Telecom is at an advanced stage of merging all its telecom ventures into a single unit.

SCI selloff

New Delhi, April 13: The government is likely to consider rebidding for Shipping Corporation of India (SCI) and a proposal to allow PSU employees to vie for a stake in their companies at Tuesday’s meeting of the Cabinet Committee on Disinvestment.


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